US President Donald Trump has instructed aides to prepare for an extended blockade of Iran, the Wall Street Journal reports according to Reuters, citing US officials.
In recent meetings, Trump opted to continue squeezing Iran’s economy and oil exports by preventing shipping to and from its ports, the report said, adding that he believed that his other options, including resuming bombing or walking away from the conflict, carried more risk than maintaining the blockade.
Reuters could not immediately verify the report.
Meanwhile, US secretary warns financial institutions against funding Iranian ‘shadow banks’
US Treasury Secretary Scott Bessent has warned financial institutions not to fund what he calls Iran’s “shadow banking system”.
In a post on X, he said, “Iran’s shadow banking system serves as a critical financial lifeline for its armed forces, enabling activities that disrupt global trade and fuel violence across the Middle East.”
Commenting on the US Treasury Department’s imposition of sanctions on 35 Iranian entities and individuals overseeing Iran’s “shadow banking” networks, the secretary said, “Illicit funds funneled through this network support the regime’s ongoing terrorist operations, posing a direct threat to US personnel, regional allies, and the global economy.”
“Financial institutions are on notice: Any institution that facilitates or engages with these networks is at risk of severe consequences,” he added.
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